Novartis AG ($NVS) has projected a mid-single-digit growth in net sales by 2024, with earnings expected to grow at a high single-digit pace this year. The Swiss pharmaceutical company's fourth-quarter profits soared to $8.48 billion, largely due to significant gains from the spinoff of its Sandoz division. However, Novartis missed market expectations for Q4 net income and has extended its forecast period, leading to a 3% drop (-3.0% pre) in its shares in pre-market trading.
$NVS (-3.0% pre) Novartis Shares Fall After Earnings Miss Hopes, Outlook Disappoints https://t.co/6UCHLNygLS
Novartis misses Q4 net income expectations, extends forecast https://t.co/KXMa0cHnbi https://t.co/8hu1UC7qhn
$NOVN.SW | $NVS šØš Novartis Release/ Report https://t.co/FFa6SALC1W Presentation https://t.co/KAdrV1Mv9e Webcast https://t.co/yVhQPPYSZk https://t.co/nuwpD0KTRW
Novartis 4Q profit soars to $8.48 billion after hefty gain from Sandoz spinoff https://t.co/8rmRdoOmtR
Novartis forecasts earnings will grow at a high single digit pace this year as the Swiss drugmaker focuses on drugs with bigger growth potential https://t.co/HjJXksVvl1
š“ NOVARTIS EXPECTS MID-SINGLE-DIGIT GROWTH IN NET SALES BY 2024